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Weekly forecast US Dollar / Canadian Dollar technical chart
Symbol USDCAD
Trade Setup

#USDCAD
Total Profit: 3882 pip
Closed trade(s): 1092 pip Profit
Open trade(s): 2790 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 1.2154 (day close price) based on 'Peak' at 2021.06.11 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/U...

Closed Profit:
TP1 @ 1.2199 touched at 2021.06.15 with 45 pip Profit.
TP2 @ 1.2470 touched at 2021.06.18 with 316 pip Profit.
TP3 @ 1.2885 touched at 2021.08.20 with 731 pip Profit.
45 + 316 + 731 = 1092 pip

Open Profit:
Profit for one trade is 1.2712(current price) - 1.2154(open price) = 558 pip
5 trade(s) still open, therefore total profit for open trade(s) is 558 x 5 = 2790 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 1.22840 is broken, we will close open trades.

DateFebruary 27, 2022 - 15:03
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.22840, resumption of uptrend is expected.
  • We make sure when the resistance at 1.29470 breaks.
  • If the support at 1.22840 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.22840 is broken.

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • A trough is formed in daily chart at 1.2663 on 02/16/2022, so more gains to resistance(s) 1.2885 and maximum to Major Resistance (1.2947) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 50.

Take Profits:

  1. 1.2199
  2. 1.2470
  3. 1.2885
  4. 1.3420
  5. 1.3710
  6. 1.4050
  7. 1.4660
Click on the level to view price action history.

Symbol Released Current Forecast
US Dollar / Canadian Dollar (USDCAD) Sat, 23 Mar 2024
US Dollar / Canadian Dollar (USDCAD) free Sun, 17 Mar 2024
US Dollar / Canadian Dollar (USDCAD) Sat, 9 Mar 2024
US Dollar / Canadian Dollar (USDCAD) Sat, 2 Mar 2024
US Dollar / Canadian Dollar (USDCAD) Sun, 25 Feb 2024